AED24 billion real estate development unveiled in Sharjah

WAM -- A massive 24 million square metre-project said to be generating AED24 billion in real estate value was launched today in Sharjah in the presence of H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah.

The Aljada, owned by Arada, is said to be the largest privately-owned mixed-use real estate project in the emirate with easy access to the main highways, accommodating neatly designed educational and developmental entities that reflect the unique splendour of the Emirate.

The UAE-headquartered real estate developer, Arada, was jointly established in January 2017 through a partnership enterprise between KBW Investments and Basma Group.

His Highness Sheikh Sultan during the launch ceremony was briefed on the details of the landmark project which boasts direct access to Al Dhaid Road and easy access to Sheikh Mohammed bin Zayed Road, Aljada is adjacent to the emirate’s University City. It is located just five minutes’ drive from Sharjah International Airport and the Sharjah Airport International Free Zone. The district’s multiple access points and general road widths will serve to ease congestion.

With construction activities scheduled to commence in Q1 2018, Aljada will be delivered in 10 phases starting in 2019. The entire project is expected to complete by 2025.

"We are delighted today to launch a new project that embodies the unique essence of the real estate strategy adopted by the Emirate of Sharjah, being an epicenter of science, culture and knowledge," said Sheikh Sultan bin Ahmed Al Qasimi, Chairman of the Sharjah Media Council, Chairman of Arada.

"We want to offer residents and investors upscale living experiences that are currently unavailable in the market, and ensure a better life for everyone who visits, lives, or works in Aljada. We are confident that this development will raise interest in Sharjah even further, while strengthening its position as a secure and sought-after investment destination."

The Central Hub, Aljada’s entertainment and leisure precinct, will feature an urban piazza replete with coffee shops and restaurants, and a musical fountain display as its centrepiece. Other attractions will include skate parks, an extreme sports centre, and the largest children’s adventure and discovery complex in the Northern Emirates.